Calgary Real Estate Market Snapshot – Dec. 1, 2017

December 2nd, 2017

Absorption Rate Dec. 2017

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

What is Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

Current Absorption Rate

The Absorption rate for November decreased in all categories except Semi – Detached which rose a little.  In my opinion this is mainly due to listings expiring and not due to sales.  Either way this is good as it is keeping the market fairly balanced. 

Oct  2017  Nov  2017  Change
Detached 3.57 3.15 -0.42
Semi Detached 4.27 4.40 0.13
Attached – Row 5.28 4.60 -0.68
Apartment 7.03 6.69 -0.35
Total City 4.41 4.01 -0.39

 

Calgary Listing Inventory

In November all categories saw a decrease in the number of listings.  This is normal for this time of year where people will let their listing expire and then put it back on in the new year.

Inventory Oct  2017  Nov  2017  Change
Detached 3246 2758 -488
Semi Detached 611 555 -56
Attached – Row 967 861 -106
Apartment 1639 1491 -148
Total City 6463 5665 -798

 

 

Calgary Sales:

Sales for November saw a small decrease overall.  Attached Row homes are the only category to show an increase.  Semi-Detached saw a rather large decrease and it’s my belief that this is simply listings expiring that will be relisted in January.

Of interest Calgary year to date sales are 15% above last year’s sales.

Calgary Sales  Oct  2017  Nov  2017  Change % Change
Detached 908 875 -33 -3.63%
Semi Detached 143 126 -17 -11.89%
Attached – Row 183 187 4 2.19%
Apartment 233 223 -10 -4.29%
Total City 1467 1411 -56 -3.82%

    

Calgary Real Estate Sales Prices:

Prices for November showed a slight decrease in Calgary.  This in my opinion is mainly due to consumer confidence or lack of it.

  Sales Prices Oct  2017  Benchmark Price   Nov  2017  Benchmark Price Change
Detached 506,200 504,000 -2,200
Semi Detached 419,000 417,800 -1,200
Attached – Row 305,000 303,100 -1,900
Apartment 261,600 258,300 -3,300
Total City 438,900 436,700 -2,200

 

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2017    Benchmark Price  Nov  2017  Benchmark Price Change

$

% Change
Detached 498,700 504,000 5,300 1.06%
Semi Detached 406,800 417,800 11,000 2.70%
Attached – Row 302,600 303,100 500 0.17%
Apartment 265,000 258,300 -6,700 -2.53%
Total City 433,400 436,700 3,300 0.76%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.

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Calgary Real Estate Market Snapshot – Nov. 1, 2017

November 2nd, 2017

Aborsption Rate Trend – Supply Vs Demand 

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Absorption Rate’s Explained  (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Absorption Rate

The Absorption rate for October stayed almost flat with the exception of Apartment Condos which decreased by 1.38 which is the first sizable decrease we have seen in this sector in a while.  It’s important to note that last month went up by 1.29 so part of this can be just timing of listing coming on and off the market.

  Sept  2017  Oct  2017  Change
Detached 3.79 3.57 -0.21
Semi Detached 4.31 4.27 -0.04
Attached – Row 5.25 5.28 0.03
Apartment 8.42 7.03 -1.38
Total City 4.69 4.41 -0.29

 

Calgary Listing Inventory

In October all categories stayed flat except for detached homes which saw an decrease of 233 listings and apartment condos which decreased by 129 listings.

Inventory Sept  2017  Oct  2017  Change
Detached 3479 3246 -233
Semi Detached 621 611 -10
Attached – Row 993 967 -26
Apartment 1768 1639 -129
Total City 6861 6463 -398

 

Calgary Sales:

Sales for October were almost identical to September. Last year sales from Sept to Oct increased by 168 so were a little behind last year.

Calgary Sales  Sept  2017  Oct  2017  Change % Change
Detached 919 908 -11 -1.20%
Semi Detached 144 143 -1 -0.69%
Attached – Row 189 183 -6 -3.17%
Apartment 210 233 23 10.95%
Total City 1462 1467 5 0.34%

 

 Calgary Real Estate Sales Prices:

I find these numbers interesting as again if in a balanced market prices should remain fairly stable.  In reality every sector showed a slight decrease.  One variable that these numbers do not show is consumer confidence and I think this may have something to do with prices holding.

  Sales Prices Sept  2017    Benchmark Price   Oct  2017  Benchmark Price Change
Detached 508,900 506,200 -2,700
Semi Detached 419,400 419,000 -400
Attached – Row 306,900 305,000 -1,900
Apartment 263,700 261,600 -2,100
Total City 441,500 438,900 -2,600

 

 Sales Prices “Year to Date”  

Our Year to date numbers are very in alignment with the absorption rate changes.

Sales Prices Jan 1, 2017    Benchmark Price  Oct  2017  Benchmark Price Change

$

% Change
Detached 498,700 506,200 7,500 1.50%
Semi Detached 406,800 419,000 12,200 3.00%
Attached – Row 302,600 305,000 2,400 0.79%
Apartment 265,000 261,600 -3,400 -1.28%
Total City 433,400 438,900 5,500 1.27%

 

Looking Forward – Again just Gord’s opinion.

Based on the absorption rate we should see stability in the Detached & Semi Detached sectors while we may seem more losses in the Row House & Apartment sectors

However

You may have heard by now that the Fed’s are changing mortgage qualifying rules as of Jan 1, 2018.  This can cause a wide range of changes.

  • In the short term it can push people to buy before the end of the year.
  • When they changed the qualifying process for insured mortgages we saw little change in sales numbers.
  • I heard from one mortgage broker that most banks are already doing this for many types of mortgages so again the impact may be smaller than what some expect
  • If there is an impact and people are able to qualify for less, then this may push some people from detached homes to attached homes and from row housing to the apartment condo sector which in Calgary could bring more balance to our market.
  • Really only time will tell the whole story

 

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let us know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

 

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Housing Market Outlook, Fall of 2017 Produced by Canadian Mortgage and Housing Corp (CMHC)

October 27th, 2017

Every quarter CMHC provides a housing outlook report.  In the report you will find

  • New home market
  •  Resale Market
  • Rental Market
  • Economic Trends

The report show stats from the past and future predictions, In my opinion it is a great report.

To see full report click here

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Tips to Winterize your home

October 3rd, 2017

To ensure your home is ready for the winter follow our tips to winterize. Most items you can do yourself but some will require a professional.

  1.  Hose bibs:  Turn off the water to all exterior hose bibs to prevent freezing.  Once water is off open the tap slightly to let water drain.   If you are in a newer home you will likely have a valve inside to drain all the water from the pipes.
  2. Irrigation systems:  If you have an irrigation system it is imperative that you have the lines blown out to remove all moisture from the lines. This again will prevent freezing of the pipes and ensures your system works next year.
  3.  Clean or replace your furnace filter.  Dirty filters make your furnace work harder and reduce its efficiency.
  4.  Have your heating system professionally inspected.  Atco gas will come out and check your system (I believe at no charge).
  5. If you have not done so recently have someone in to clean your vents.  This will reduce dust and give you better quality air inside your home.
  6. Clean your gutters and eavestroughs.  Clean eaves allow for proper flow of water so it does not just run over the gutters and land near your foundation.
  7. Do an  inspection of your windows and doors, are there any cracks or gaps that you can fill to reduce the amount of air that comes in cooling your home.
  8. *** Ensure the grade of your lot is sloping away from your foundation.  Grading towards the home is the number 1 cause of water seeping into basement.
  9. If you have a fireplace, get your Chimney professionally cleaned.  A dirty chimney is a fire hazard.

 

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Calgary Real Estate Market Snapshot – Oct 1, 2017

October 2nd, 2017

Calgary Absorption Rate

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Absorption Rate

The Absorption rate for September increased in all categories except attached-row homes where it dropped marginally.   The one to note is apartment condos which increased by 1.29 putting us at 8.42 months of inventory.  

  Aug  2017  Sept  2017  Change
Detached 3.32 3.79 0.46
Semi Detached 3.27 4.31 1.04
Attached – Row 5.27 5.25 -0.02
Apartment 7.13 8.42 1.29
Total City 4.13 4.69 0.56

 Calgary Listing Inventory

In September all categories stayed flat except for detached homes which saw an increase of 199 listings.

Inventory Aug  2017  Sept  2017  Change
Detached 3280 3479 199
Semi Detached 585 621 36
Attached – Row 991 993 2
Apartment 1769 1768 -1
Total City 6624 6861 237

 

Calgary Sales:

Sales for September saw a decrease in all categories except attached-row homes which increased by 1.  A decrease at this time of year is fairly normal and I would classify this as simply seasonal.

Of interest Calgary year to date sales are 7% above last year’s sales.

Calgary Sales  Aug  2017  Sept  2017  Change % Change
Detached 987 919 -68 -6.89%
Semi Detached 179 144 -35 -19.55%
Attached – Row 188 189 1 0.53%
Apartment 248 210 -38 -15.32%
Total City 1602 1462 -140 -8.74%

  

Calgary Real Estate Sales Prices:

Okay, I will eat my words here.  Last month I predicted that prices would remain fairly even except for attached – row houses and apartment condos which I said should drop.  As you can see below I was wrong however with the absorption rates I again will predict all categories will remain fairly flat with the exception of apartment condos where a decrease is likely.

  Sales Prices Aug   2017Benchmark Price   Sept  2017  Benchmark Price Change
Detached 510,900 508,900 -2,000
Semi Detached 419,600 419,400 -200
Attached – Row 307,000 306,900 -100
Apartment 263,300 263,700 400
Total City 442,300 441,500 -800

  

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2017    Benchmark Price  Sept  2017  Benchmark Price Change

$

% Change
Detached 498,700 508,900 10,200 2.05%
Semi Detached 406,800 419,400 12,600 3.10%
Attached – Row 302,600 306,900 4,300 1.42%
Apartment 265,000 263,700 -1,300 -0.49%
Total City 433,400 441,500 8,100 1.87%

 **Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

TSW Real Estate Group

 

 

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3 Reasons to Talk to a Realtor Today

October 1st, 2017

You might naturally assume that it is most important to talk to a Realtor when you’re selling or buying a home. But there are many other circumstances in which it makes sense to give me a call. Here are a few examples.

1. When you’re at the “thinking about it” stage.  If you’re just thinking about selling your home, and haven’t made a firm decision yet, you might feel uncomfortable calling a Realtor. Don’t be. It’s better to gather the facts to assist you in your decision making,  I welcome your call.  We can discuss what your current property will likely sell for in today’s market, and determine the type of home you qualify to buy. That way, you’ll have some clarity and be able to make a more informed decision.

2. If you’re nervous about the selling process.   If you haven’t sold a home before, you might be concerned about what’s involved in the process. You might even worry that putting your home on the market is going to be a lot of work and create a lot of turbulence for you and your family. Fortunately, selling your home doesn’t need to be scary. In fact, a big part of my job as a Realtor is to make the process as smooth and trouble-free as possible. So if you have concerns about selling your home, you should give me a call.

3. If you have questions You likely have questions about the local real estate scene from time to time. You might have questions like: “How much did that home around the corner sell for?  How is the Market?  Is a condo or a house a better investment.  How much does it cost to build a house in Calgary? There are many types of questions and we will do our best to get you the answers you need.

Contact us

 

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What Do Interior Designers Do?

September 22nd, 2017

If you want to transform a room into something that’s functional, beautiful and perfectly matched to your taste, then you might want to hire an interior designer. It’s an interior designer’s job to come up with imaginative ideas that will wow you. It’s a myth that interior designers just deal with paint colours, décor and furnishings. In fact, according to the Interior Designers Institute, these professionals have the training needed to handle all aspects of a renovation or remodeling project, including selecting and managing contractors. They can direct a project from beginning to end.

If you want to renovate your basement into a stunning home theatre and gathering place, an interior designer can:

• Draw out several concepts for you to choose from

• Purchase the best building materials

• Hire the contractors

Manage the project. He or she can even pick out classic movie pictures for the walls!

If you would like to speak to a local interior designer I would be happy to refer you to one of our partners.

Refer me to a interior designer 

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Calgary Real Estate Market Snapshot

September 3rd, 2017

What is Really Happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Current Absorption Rate

The Absorption rate for August showed a very slight increase for detached homes, and Apartment condos.   Attached (Row) houses showed a larger increase of .64 while Semi-detached (Duplexes) showed a substantial decrease of .79.    

  July 2017 Aug  2017  Change
Detached 3.21 3.32 0.11
Semi Detached 4.05 3.27 -0.79
Attached – Row 4.63 5.27 0.64
Apartment 7.07 7.13 0.06
Total City 4.08 4.13 0.06

 

Calgary Listing Inventory

In August we saw most categories stay almost the same. The one exception is Apartment Condos and they decreased by 41 listings.  I believe the reason for this is listings expiring and not a sales increase.

Inventory July 2017 Aug  2017  Change
Detached 3268 3280 12
Semi Detached 596 585 -11
Attached – Row 1001 991 -10
Apartment 1810 1769 -41
Total City 6675 6624 -51

 

Calgary Sales:

August sales remained very consistent to July’s numbers with all being within 35 either way.

Calgary Sales  July 2017 Aug  2017  Change % Change
Detached 1018 987 -31 -3.05%
Semi Detached 147 179 32 21.77%
Attached – Row 216 188 -28 -12.96%
Apartment 256 248 -8 -3.13%
Total City 1637 1602 -35 -2.14%

   

Calgary Real Estate Sales Prices:

Interestingly enough all categories except Row houses (townhouses) took a small drop this month.

The largest decrease was in apartment condos and my opinion is that due to the high absorption rate this will continue for some time.

  Sales Prices July 2017 Benchmark Price   Aug  2017  Benchmark Price Change
Detached 512,100 510,900 -1,200
Semi Detached 420,800 419,600 -1,200
Attached – Row 306,700 307,000 300
Apartment 266,200 263,300 -2,900
Total City 443,600 442,300 -1,300

  

Sales Prices “Year to Date”  

Sales Prices Jan 1, 2017    Benchmark Price  Aug  2017  Benchmark Price Change

$

% Change
Detached 498,700 510,900 12,200 2.45%
Semi Detached 406,800 419,600 12,800 3.15%
Attached – Row 302,600 307,000 4,400 1.45%
Apartment 265,000 263,300 -1,700 -0.64%
Total City 433,400 442,300 8,900 2.05%

 **Please note that these numbers include only Calgary homes and  change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

 

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August 1, 2017 Market Snapshot

August 2nd, 2017

Absorption Rate Graph

What is really happening in the Calgary Real Estate Market?

Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

Important Disclaimer:  ***Error***   For those who regularly follow my Market Snapshot you may notice the numbers from last month do not jive with the numbers from this month.  It appears to me that this is a correction reversing last month’s numbers from the Real Estate Board.

The chart below shows the change in Sales Price numbers for June and July, so you can see it’s a numbers correction and not what’s really happening.  Hopefully this is the last error!

These numbers also reflect what I am seeing in the Market with infills rising and townhouses declining in price.

 

June Prices July Prices Net Change 2 Months
Semi-Detached +39,000 (11,300) +27,700
Row – Townhouses (14,300) +12,700 (1,600)

_______________________________________________________________________________

August Market Snapshot Report 

*** Absorption Rate

The Absorption rate for July saw all categories increase.   This is somewhat normal for this time of year as the majority of summer vacations are taken between July 15th to Aug 15th.  Our scorching weather may have played a factor in this as well.

 

June 2017 July  2017  Change
Detached 2.33 3.21 0.88
Semi Detached 2.90 4.05 1.15
Attached – Row 3.63 4.63 1.01
Apartment 6.55 7.07 0.52
Total City 3.11 4.08 0.97

 

Calgary Listing Inventory

In July we saw an increase in all categories except apartment condos.  I’m speculating the only reason we saw a decline in apartment condos is that many of the listings that are not selling are starting to expire.

Inventory June 2017 July  2017  Change
Detached 3224 3268 44
Semi Detached 560 596 36
Attached – Row 1001 1001 0
Apartment 1874 1810 -64
Total City 6659 6675 16

 

 

Calgary Sales:

As you can see sales declined in all categories in July.  Once again I believe this change to be mostly seasonal and also partially due to the hot weather.  This is the first month in a while where we have seen such large decreases.

Calgary Sales  June 2017 July  2017  Change % Change
Detached 1385 1018 -367 -26.50%
Semi Detached 193 147 -46 -23.83%
Attached – Row 276 216 -60 -21.74%
Apartment 286 256 -30 -10.49%
Total City 2140 1637 -503 -23.50%

   

Calgary Real Estate Sales Prices:

For July we saw small increases in price with the exception of the data errors mentioned above.

Moving forward I expect that detached and semi-detached will remain flat, townhouses may decrease a little more and apartment condos will continue to decrease.

  Sales Prices June 2017 Benchmark Price   July  2017  Benchmark Price Change
Detached 509,400 512,100 2,700
Semi Detached 432,100 420,800 -11,300
Attached – Row 294,000 306,700 12,700
Apartment 265,800 266,200 400
Total City 441,500 443,600 2,100

 

 

Sales Prices “Year to Date”  

 

Sales Prices Jan 1, 2017    Benchmark Price  June 2017  Benchmark Price Change

$

% Change
Detached 498,700 512,100 13,400 2.69%
Semi Detached 406,800 420,800 14,000 3.44%
Attached – Row 302,600 306,700 4,100 1.35%
Apartment 265,000 266,200 1,200 0.45%
Total City 433,400 443,600 10,200 2.35%

  

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

TSW Real Estate Group

Gord Piper & Brent Wilcox

 

 

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Painting Techniques that Bring a Hallway to Life

July 28th, 2017

Some people don’t give hallways much thought when painting and decorating.  Instead, they focus on rooms.  The fact is, a great looking hallway can have the same, if not more, impact than the most eye-catching family room or bedroom, especially when you need to go through the hallway to get there!  Here are some painting tips that can bring a dull hallway to life:

• Paint the hallway the reverse of the rooms around it. If the rooms are dark, use light colours in the hall. If the rooms feature simple colours, consider being more dramatic in your choice of hallway paint.

• In a longer hallway, using two shades of the same colour on perpendicular walls can make the space seem less tunnel-like. (The darker shade goes on the shorter walls.)

• Darker colours can work well if the space is well-lit and there are few, if any, shadows cast.

• If you decide to paint the halls white, select an off-white or eggshell white. Avoid stark white as it will reflect light in a way that’s unpleasant. One more tip: Pictures can go a long way in making a hallway look inviting, regardless of the wall colour. Good luck with the painting!

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